Ares Capital: Floating Interests Would Be Affected By Rate Cuts [Seeking Alpha]
Ares Capital Corporation - Closed End Fund (ARCC)
Last ares capital corporation - closed end fund earnings: 2/12 06:22 am
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US:NASDAQ Investor Relations:
arescapitalcorp-ir.com
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Source: Seeking Alpha
69% of the portfolio is held in floating loans, which would receive lower benchmark interest rates when rates begin to fall. Additionally, ARCC stock is trading at its 52-week-high. Based on a cyclical dividend at its peak, along with the aforementioned factors, I rate this business development company as a sell. Ares Capital ( NASDAQ: ARCC ) is the largest business development company (BDC) in the world with $12.6 billion in market cap and a portfolio that, measured at fair value, was worth $22.9 billion in Q4 2023 holding different sub-asset classes among 505 portfolio companies. Currently, this BDC offers a dividend yield of 9.2%, most recent payout ratio of 71.9% and Seeking Alpha's dividend safety score of C+. I assume that most of you who are reading this analysis come to see why I am rating this stock with a sell, and through this analysis I will explain why their composition of floating loans, stock trading at 52-week high, and cyclical dividend payment at its highest,
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ARCC
News
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- Capital Southwest Q4: Quality BDC But Valuation Is Too Rich Here [Seeking Alpha]Seeking Alpha
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- Ares Capital: Building A Big-Yield Portfolio (BDCs, CEFs, REITs) [Seeking Alpha]Seeking Alpha
ARCC
Earnings
- 5/1/24 - In-Line
ARCC
Sec Filings
- 5/21/24 - Form 8-K
- 5/16/24 - Form DEFA14A
- 5/16/24 - Form DEFA14A
- ARCC's page on the SEC website